Satellite Beach, North Carolina Property Taxes
The median property tax rate in Satellite Beach, NC is 0.40%, significantly lower than both the national median of 0.99% and North Carolina's state median of 0.82%. With a median home value of $279,050 in Satellite Beach, the typical annual property tax bill amounts to $1,116, which is well below the national median of $2,690. Property taxes in Satellite Beach are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Satellite Beach's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Satellite Beach or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Satellite Beach, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,116
Ownwell’s Satellite Beach Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Satellite Beach with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Satellite Beach to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Satellite Beach, North Carolina
Property taxes in Satellite Beach, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Satellite Beach is 0.40%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Satellite Beach set these rates annually, and they can vary significantly across different neighborhoods. Each year, Satellite Beach estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Satellite Beach's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 32937 has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Satellite Beach provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Satellite Beach Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Satellite Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32937 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Satellite Beach, North Carolina
In Satellite Beach, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Avery County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Satellite Beach, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Satellite Beach helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 32937 has the highest and lowest median tax bill, both at $1,116.
Property Tax Assessment Values Across Satellite Beach, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Satellite Beach Assessed Value
$279,050
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Satellite Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32937 | $203,970 | $232,125 | $279,050 | $325,975 | $354,130 |
Source: Ownwell
Property Tax Bills Across Satellite Beach, North Carolina
In Satellite Beach, Avery County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor, who evaluates the property's market value and applies the local assessment ratio. Homeowners in this region experience varying tax bills, with the 25th percentile paying around $929 and the 75th percentile facing bills of about $1304. At the 90th percentile, tax bills can reach up to $1417. Factors such as property size, location, and improvements significantly influence the assessed value. Compared to the national median property tax rate of 0.99%, homeowners in Satellite Beach may find their tax obligations relatively moderate or high, depending on their property's assessed value. This variability in tax bills impacts homeowners' annual budgets, potentially affecting their financial planning and housing affordability. Understanding how these taxes are calculated helps homeowners better prepare for their financial responsibilities.
Average Satellite Beach Tax Bill
$1,116
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Satellite Beach, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32937 | $816 | $929 | $1,116 | $1,304 | $1,417 |
Source: Ownwell